Air Street Capital is a London-based venture capital firm founded in 2019 by Nathan Benaich. It operates as one of Europe's largest solo-GP funds, backing AI-first companies where artificial intelligence is central to how the product works rather than an add-on feature.
Air Street backs companies building across the full stack of AI: foundation model infrastructure, AI-powered drug discovery, defense technology, robotics, and developer tooling. The firm focuses on technically ambitious founders building products that would not exist without AI at their core.
It deliberately avoids generic SaaS or GenAI wrappers, prioritizing mission-critical applications in areas where AI creates irreplaceable value.
Air Street Capital raised $232 million for Fund III in March 2026, bringing its total assets under management to $400 million. The fund targets early-stage AI-first companies in Europe and North America.
Check sizes range from $500,000 to $15 million, with select growth investments reaching up to $25 million. LPs include US university endowments, foundations, hospitals, and institutional investors.
Fund III follows Fund II ($121 million, 2023) and Fund I ($17 million, 2020), reflecting consistent growth. With this raise, Air Street became one of the largest solo VC funds in Europe.
Leadership
Nathan Benaich is the Founder and General Partner of Air Street Capital and the sole member of its investment team. He holds a PhD in computational cancer biology from Cambridge and has co-authored the annual State of AI Report since 2018. Before Air Street, he was a venture partner at Point Nine Capital.
Investment Strategy
Air Street leads early-stage rounds with checks between $500,000 and $15 million, with selective follow-on up to $25 million. Nathan is the sole investment team member, giving founders direct GP access at every stage. The firm publishes the State of AI Report and runs the RAAIS Summit, which serve as sourcing tools and community anchors.
Notable Investments
The firm has backed some of the most notable AI companies in Europe and North America:
Notable Exits
Significant portfolio exits include:
Other
Nathan Benaich co-organizes the RAAIS Summit and RAAIS Foundation, supporting AI research and the broader scientific community. Air Street backs technically differentiated founders early, often before product-market fit is established.
United Kingdom
